Intra-Cellular Therapies (ITCI) Now Covered by Royal Bank of Canada

Royal Bank of Canada started coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report released on Thursday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $33.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 103.83% from the company’s current price.

Several other equities analysts have also recently issued reports on ITCI. Zacks Investment Research cut shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. ValuEngine cut shares of Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 5th. BidaskClub cut shares of Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. Finally, Canaccord Genuity started coverage on shares of Intra-Cellular Therapies in a research note on Friday, December 15th. They issued a “buy” rating and a $31.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $26.70.

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Shares of Intra-Cellular Therapies (NASDAQ ITCI) traded up $0.15 during trading hours on Thursday, hitting $16.19. The stock had a trading volume of 360,351 shares, compared to its average volume of 276,818. The stock has a market capitalization of $883.62, a P/E ratio of -7.36 and a beta of 0.86. Intra-Cellular Therapies has a twelve month low of $7.85 and a twelve month high of $22.67.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.53). Intra-Cellular Therapies had a negative return on equity of 27.40% and a negative net margin of 28,038.35%. The business had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.06 million. During the same quarter in the previous year, the business earned ($0.70) earnings per share. The business’s revenue for the quarter was up 675.0% on a year-over-year basis. equities research analysts anticipate that Intra-Cellular Therapies will post -2.04 earnings per share for the current year.

In related news, CFO Lawrence J. Hineline sold 3,192 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $15.67, for a total value of $50,018.64. Following the completion of the sale, the chief financial officer now owns 68,686 shares in the company, valued at $1,076,309.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael Halstead sold 25,500 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $18.03, for a total transaction of $459,765.00. Following the transaction, the senior vice president now owns 191 shares of the company’s stock, valued at approximately $3,443.73. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,160 shares of company stock valued at $966,934. 19.80% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. acquired a new stake in shares of Intra-Cellular Therapies during the 3rd quarter valued at $4,114,000. Goldman Sachs Group Inc. lifted its stake in Intra-Cellular Therapies by 336.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 580,770 shares of the biopharmaceutical company’s stock valued at $7,213,000 after purchasing an additional 447,586 shares during the last quarter. Swiss National Bank lifted its stake in Intra-Cellular Therapies by 31.0% in the 3rd quarter. Swiss National Bank now owns 69,800 shares of the biopharmaceutical company’s stock valued at $1,101,000 after purchasing an additional 16,500 shares during the last quarter. First Midwest Bank Trust Division lifted its stake in Intra-Cellular Therapies by 18.2% in the 3rd quarter. First Midwest Bank Trust Division now owns 184,836 shares of the biopharmaceutical company’s stock valued at $2,917,000 after purchasing an additional 28,487 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Intra-Cellular Therapies in the 3rd quarter valued at approximately $390,000. Hedge funds and other institutional investors own 74.37% of the company’s stock.

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About Intra-Cellular Therapies

Intra-Cellular Therapies, Inc (ITI) is a biopharmaceutical company. The Company is focused on the discovery and clinical development of small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system (CNS).